Decommissioning Insight 2018

5.6 The UK’s Role in a Global Market In the UK Government's Budget 2018, the Chancellor issued a ‘call for evidence’ on how to establish Scotland and the UK as a global hub for decommissioning. With a developing supply chain and knowledge base, supported by a drive to innovate from leading institutions, there is a great opportunity available for the UK to seize. With expenditure comes experience, skills, knowledge and expertise through the people that are delivering these decommissioning projects. Wood Mackenzie recently published its forecast for global decommissioning expenditure over the next ten years, in which it anticipates the UK being by far the highest area for global decommissioning expenditure. In part this is because of the complexity of decommissioning projects, given that the majority lie offshore in deep waters, but it is mainly reflective of the maturity of the basin.

Figure 13: Global Decommissioning Expenditure, 2018 to 2027

8. Canada

1. United Kingdom

9. Netherlands

5. Thailand

2. United States

10. Malaysia

3. Norway

11. Indonesia

4. Brazil

12. Australia

7. Nigeria

6. Angola

3% 3%

3%

4%

4%

33%

5%

$82 billion Top 12 global markets

5%

5%

9%

15%

11%

Source: Wood Mackenzie

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